Announcement concerning Central Bank purchases of Treasury bonds
At the beginning of May 2020, the Central Bank of Iceland began buying Treasury bonds in the secondary market, in accordance with the 23 March 2020 statement by the Monetary Policy Committee.
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Central Bank to continue regular programme of foreign currency sales
From Monday 4 January 2021 through the end of the month, the Central Bank of Iceland will sell 3 million euros per business day to market makers in the foreign exchange market, for a total of 60 million euros during the month. The transactions will take place soon after the market opens, and no later than 10:00 hrs.
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Revised Currency Baskets
The weights of currencies in the baskets used to calculate the trade-weighted exchange rate indices have been updated. The weights are determined based on Iceland’s external trade in 2019. The last review was carried out at the beginning of 2020. On a special webpage you can find the tables that show the new baskets and the changes resulting from the review. The revised baskets will be used as of 1 January 2021 and will remain in use until the next annual review. The weights are determined based on the composition of Iceland’s external trade during the previous year. The aim is that the baskets reflect as closely as possible the composition of Iceland’s external trade in goods and services. Currency selection is based on the three-year average of a country’s share in Iceland’s goods and services trade.
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Central Bank lengthens adaptation period for minimum liquidity ratio in Icelandic krónur by one year
Rules no. 1399/2020 amending the Rules on Credit Institutions’ Liquidity Ratios, no. 266/2017, with subsequent amendments, were published today in the Law and Ministerial Gazette [Stjórnartíðindi]. With this amendment, the grace period previously granted to credit institutions to adapt to the required minimum liquidity ratio in Icelandic krónur has been lengthened by one year.
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The Central Bank of Iceland stops sending printed reports to subscribers
In recent years, the Central Bank of Iceland has reduced the printing of its reports and other publications, prompted by technological advances and increased emphasis on environmental issues within the Bank. The Bank has now decided to stop sending printed reports to subscribers as of 1 January 2021.
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